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Top Section: Currencies and Central Banks
Each row is a major central bank (like the US Federal Reserve or the European Central Bank) and how much money they have created or printed, known as M2 (a measure of money supply that includes cash, savings, and checking accounts).
Columns explained:
1. M2 (in local currency billions)
How much money supply each country has, in their own currency.
Example: The US has 22,115 billion dollars of money in circulation.
2. Dollars per local currency
The conversion rate into US dollars.
Example: Japan’s yen is very cheap compared to the dollar (0.0068), so their M2 looks small locally but is huge once converted to USD.
3.M2 (in USD billions)
This converts each country’s money supply into US dollars so we can compare apples to apples.
Example: US = 2,115.40 billion USD, Japan =8,644 billion USD, China = 46,192 billion USD.
4. Share in FX Assets
The percentage of global foreign exchange reserves held in that currency.
Example: The US dollar makes up 57.7% of global FX reserves.
5. Share of Global GDP (Nominal)
The country’s share of the global economy.
Example: The US is 26.3% of global GDP, the Eurozone is 17.3% China is 16.9% etc.
6. Weighted (FX) in Billions
Adjusts the money supply by how much the currency is used globally (in FX reserves).
Think of this as: “How important is this money supply in the world system?”
Example: The US comes out at 12,767.6 billion.
7. Weighted (Global GDP) in Billions
Adjusts the money supply by the size of that country’s economy.
Example: China’s weight here is huge: 7,806.38 billion.
8. Global M2 in USD
Adds everything up for a total global money supply. About 95.5 trillion USD total.
Bottom Section: Gold
Now it compares the money supply to gold — the “hard asset” that doesn’t disappear like paper money.
1. Gold Stock (Tonnes & Ounces)
Total above-ground gold in the world: 2,16,265 tonnes* = about 7.63 billion ounces
This is broken into categories:
Jewelry: 3.427 billion ounces
Bars/coins: 1.716 billion ounces
Central banks: 1.332 billion ounces
Other: 1.154 billion ounces
2. Gold Fair Value per Ounce
If all the world’s money supply were backed by gold, what would gold need to be priced at?
All Gold: $2,741.60
Excluding jewelry: $4,977.61
Only central bank gold: $15,704.22
Average = $7,807.81 per ounce (highlighted in yellow)
👉 This is saying: if money printing were tied back to gold, fair value could be much higher than today’s spot price.
3. Gold-Silver Ratio & Silver Fair Value
Using a ratio of 60:1 (traditional long-term gold-to-silver ratio), silver’s fair value comes out to $130.13 per ounce.
In Simple Terms:
Governments keep printing money (M2). Globally, that’s about $95 trillion sloshing around.
Gold supply is limited: only 7.6 billion ounces exist above ground.
If all that money had to be backed by gold, each ounce would be worth, on average, $7,800+ — much higher than today’s market price.
Silver too would be far higher — about $130/oz compared to where it trades now.
Bottom line: Gold and silver look undervalued relative to the amount of money in the system. That’s why long-term PORTFOLIOS use precious metals to protect their wealth.
© 2025 Monetary Gold. All Rights Reserved.
This article and its contents are protected under U.S. and international copyright law. No part of this material may be reproduced, distributed, transmitted, displayed, published, or broadcast in any form or by any means, including copying, recording, or other electronic or mechanical methods, without the express prior written permission of the copyright holder. Unauthorized use, duplication, or distribution of this content is strictly prohibited and may result in legal action.
For permission requests, please contact: support@monetarygold.com.